10 common mistakes Entrepreneurs Make

Dec 25th, 2009 | By Samir | Category: Entrepreneurship

ALOK KEJRIWAL, CEO & CO-FOUNDER, GAMES2WIN

Entrepreneurs think their ideas will get ‘stolen’ so don’t share: This stops great ideas from coming through.

I should not give away a ‘large stake’ in my business: Owning 30% of a Rs 100 crores company is more valuable than owning 100% of a Rs 30 lakh company.

The company should always be profitable: Today companies are valued for metrics beyond profitability.

Friends and family are the best sources of funds: Sometimes they are the worst. They get emotional about returns, interfere in ops and can get difficult to eject.

Professionals from big companies don’t suit startups: They can help create a structure,‘corporatise’ the setup.

Employees like cash, not shares: Well, they like both!

Business should be a family concern, not sold: Many businesses need a larger partner after a certain scale.

I am the best CEO for the business: Really smart entrepreneurs hire people more clever than themselves.

This business is best for India: The world has shrunk and most businesses can be global.

I cannot fail: You can. 90% of all new business ventures do.

Source: Economic Times – 25th December 2009